Komodo Raises $650,000 on First Day of ICO

ZCash-based Komodo (KMD) recently started its public ICO to raise funds for development, and ended up bringing in more than 1000 bitcoin on the crowdsale’s first day. At press time, that funding amount is worth around $648,220 USD.

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One contributing factor to this large initial success was that the team offered investors a 25 percent bonus for buying into the project on the first day of the ICO.

According to a press release, the project’s developers will use funds from the ICO to continue work on the cryptocurrency, the main selling point of which is its ability to send anonymous transactions over Bitcoin’s ZCash fork through zero-knowledge proofs.

Full Anonymity and Security With Komodo

Its Delayed Proof of Work consensus mechanism, said developers, also allows Komodo blocks to be notarized on the Bitcoin blockchain through “notary nodes.” These nodes send…